Contract update

Contract update

Capita plc (Capita) is issuing the following statement regarding its life and pensions contract with Prudential.

As part of its wider customer and technology transformation programme, Prudential has today announced that the administration of its life and pensions business will be transferring from Capita to a new supplier on 31st July 2018. These operations are expected to contribute revenue of around £80m to Capita in the full year to December 2017.

During its 10-year partnership, Capita has helped Prudential to achieve and maintain award-winning standards of customer service and delivered operational improvements that provide a strong platform for future development. Capita will continue to administer Prudential's international operations.

Capita remains a leading provider in the UK and international life and pensions market, administering 15 million policies and delivering major benefits and the highest standards of customer service for 21 clients.

This announcement is not related to Capita’s discussions with a separate life and pensions client, as previously disclosed at our half year results.

For further information:

Capita plc Tel: [phone] or 020 7654 0220
Andrew Ripper, Head of Investor Relations
Fiona O’Nolan, Director, Corporate Communications
[e-mail]

Media enquiries:

Capita Press Office 020 7654 2399
[e-mail]

Capita is a leading UK provider of technology enabled customer and business process services and integrated professional support services. Operating at over 450 sites across the UK, Europe, India and South Africa, Capita uses its expertise, infrastructure and scale benefits to transform its clients' services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L). Further information on Capita can be found at: http://www.capita.com.
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